Scholastic To Buy Cottage Door Press For $71 Mln, Shares Climb In Pre-Market

(RTTNews) - Children's Publishing Company Scholastic Corp. (SCHL), announced on Tuesday that it has agreed to acquire Cottage Door Press, a U.S. children's publisher focused on early childhood books, for about $71 million. The deal will expand Scholastic's position in the early childhood book market by adding Cottage Door's strengths in board and novelty formats. Scholastic said the acquisition is expected to broaden its publishing portfolio across formats and channels, creating new opportunities to reach children and families. Scholastic said the acquisition should contribute to revenue growth and adjusted EBITDA in fiscal 2027 and be accretive in its second year, with synergies expected over time.